One of them is Altelium, a UK startup that has a developed an EV battery state-of-health test and certificate launching this year in more than 7,000 U.S. car...
LONDON/DETROIT - A race is on to certify battery health and performance in used electric vehicles, with a clutch of startups scrambling to help buyers figure out how much a secondhand EV is really worth.
"If the second-hand car market doesn't work properly, the new car market doesn't work properly and the electric transition won't happen," said Alex Johns, business development manager at Altelium, which says it has received interest from other markets including China. "We're in an implementation race."
According to EV battery tracking startup Recurrent, U.S. used EV prices in September were down 32% year-on-year, versus a 7% drop for fossil-fuel models. UK used EV prices were down 23% year-on-year in August while those of fossil-fuel models were up at least 4%, according to AutoTrader, which cited "consumer concerns around battery life in used EVs" as cause for concern.
In Europe, for instance, more than 1.2 million new fully-electric cars were sold in 2021 - and many will hit the used market in 2024 when their lease contracts end."You need a high functioning used-car market for residuals on new cars to be good," said Scott Case, CEO of Seattle-based Recurrent, which has signed up 20,000 EV owners to track battery data, and is also working with Black Book and dealers.
Dog spotted alone in parked Tesla with message on touch screen sends social media users into a frenzy: ‘Every car should have this option’Your usual host Kirsten was shredding off-road at the Rebelle Rally this week, so I'll be taking over the newsletter. In its eighth year, the Rebelle has become a proving ground of sorts for the 65 all-women teams who participate as well as stock manufacturer vehicles.
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